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...first refused to believe that OPEC had split into a two-tiered pricing system. Some experts hailed the news as a sign of OPEC'S breakup. Said Noboyuki Nakahara, a senior executive of one of Japan's largest oil refineries: "If true, [the split] could mean a virtual collapse of the OPEC price structure." Others more cautiously warned that OPEC could eventually get its act together again by agreeing on the Saudi price, the price of the majority eleven countries, or some level in between. In the opinion of New York Oil Economist Walter Levy, the stage...

Author: /time Magazine | Title: OIL: The OPEC Supercartel in Splitsville | 12/27/1976 | See Source »

Safe House. Other possible witnesses are becoming hard to reach. Kim Sang Keun's erstwhile boss. Major General Kim Yung Hwan, the KCIA chief in the U.S., was reported being held under virtual house arrest in the Korean embassy in Washington. In Seoul, meanwhile, President Park fired KCIA Boss Shin Jik Soo in an apparent attempt to improve relations with Washington...

Author: /time Magazine | Title: INVESTIGATIONS: Seoul's School For Scandal | 12/13/1976 | See Source »

...three continents he spun a web that ensnared an entire state, reached into the highest levels of the U.S. Government and became entwined with the tentacles of the Central Intelligence Agency. Yet for all his power, he lived a sunless, joyless, half-lunatic life in those same hideaways, a virtual prisoner walled in by his own crippling fears and weaknesses. Once a dashing, vibrant figure, he neglected his appearance and health during his last 15 years until he became a pathetic wraith...

Author: /time Magazine | Title: TYCOONS: The Secret Life of Howard Hughes | 12/13/1976 | See Source »

...university's highly controversial and irregular refusal to grant him tenure is a blatant example of Harvard's racism. Professor Isaac is a world-renowned scholar with excellent teaching credentials. His specialty is classical Ethiopic and the history of its literature. The dismissal of this popular teacher, and the virtual end of indigenous African language-literature teaching it represents, speaks loudly of Harvard's prejudice against the interests and cultures of black people...

Author: NO WRITER ATTRIBUTED | Title: Harvard Apartheid | 12/1/1976 | See Source »

...contain 17 songs, with an overflow 7-in. disc holding four more. As usual, Stevie operates as a virtual one-man music company. Throughout the album, he acts as composer, singer, instrumentalist and producer. Despite his multiple involvement, Songs has all the spontaneity and relaxation of a jumping jamboree. Indeed, there has not been a pop album this good or this diversified since Wonder's Fulfillingness's First Finale in 1974. Stevie growls at times like an old delta blues shouter, but for the most part he sings in his distinctive black/white style, which occasionally echoes Paul McCartney...

Author: /time Magazine | Title: Show Business: Jumping Jamboree | 11/15/1976 | See Source »

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